Lifeline for first time buyers in Bletchley

FIRST time buyers could save more than £30,000 off the initial price of a brand new home in Bletchley, near Milton Keynes thanks to FirstBuy.

The valuable help is available on selected Redrow homes at Bletchley Park, making setting up home easier to afford with a smaller deposit than usual and lower monthly mortgage repayments.

Eligible purchasers take out a 20% equity loan, interest free for five years, so may only need a deposit of 4% and a 76% loan to value (LTV) mortgage to get onto the property ladder.

Tonia Tyler, area sales manager for Redrow Homes (South Midlands), explains: “The good news for first time buyers is that a deposit of around £7,000 may be enough to own a brand new home at Bletchley Park with FirstBuy.  The scheme offers a lifeline to those who perhaps had resigned themselves to a lifetime of renting in the mistaken belief that they can’t afford to buy.  Hopefully FirstBuy will make all the difference.”

FirstBuy means a two-bedroom Burcote style home at Bletchley Park, priced at £174,950, can be snapped up for an initial outlay of only £139,960. The remaining £34,990 is covered by the equity loan, which is jointly funded by Redrow and the Government. 

Qualification is easy as long as they are a first time buyer or a returning buyer with a household income of less than £60,000 per annum.

The Burcote features an open plan lounge and dining room with patio doors leading out to the garden and offering lots of natural light. It’s ideal for first time buyers who won’t need to find extra cash for essential white goods as the kitchen is well equipped with oven, hob, microwave and fridge freezer included as standard.

A downstairs cloakroom and laundry room complete the ground floor, while upstairs there are two generous sized bedrooms and a bathroom boasting quality fixtures and fittings. The front bedroom has inward opening French doors to a Juliet balcony creating an attractive feature. 

Tucked away in the quiet town of Bletchley, on the edge of Milton Keynes, Bletchley Park may seem a world away from the hustle and bustle of city living; yet the homes enjoy easy access to London in just 45 minutes from the nearby train station. Blue Lagoon Nature Reserve is just a stroll away with opportunities for woodland walks and nature trails. 

To discover how Redrow could help you on to the property ladder, visit Bletchley Park, where the sales office is open daily from 10am to 5.30pm.

For more information call 01908 968262 or see www.redrow.co.uk/bletchley.

An easy to follow video guide to FirstBuy can be viewed online at www.redrow.tv.

Caption – A computer generated image of the new Redrow homes at Bletchley Park, where FirstBuy is available.